Beware 3-D Printing!

The new technology may hold great promise, but the stocks do not. Why the industry darling could tumble 80%.

It was meant to be the moment science fiction finally met reality. This past January, makers of 3-D printers reserved 7,000 square feet worth of space at the Consumer Electronics Show. At their introductory press briefing, CES organizers described how 3-D printing was driving a new industrial revolution. The Las Vegas show floor was littered with small boxes spitting out plastic figurines and minimalist jewelry. Not exactly the stuff of a new world order in manufacturing, perhaps, but the tech world nevertheless declared 2014 the...